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Melody of Parker, PA March 16, 2006
They have upped our intrest 3 times within 4 months. We are now out of the position of having a huge prepay penalty & are able to refinance, but since we have had some late payments with them, (because of the increase in payments) we are having a hard time getting away from them. They have seriously put a financial strain on us & our credit!
Michele of Big Bend, WI March 14, 2006
My husband and I refinanced with Ameriquest in January 2005. They told us the taxes would be included, but at closing they said they were not.
I had a work injury in October 2005, lost income and fell behind on mortgage payments. Ameriquest won't do anything to help and we are now in foreclosure. They wanted to do a forebarance and wanted 5200 and then they wanted 2799 for 6 months. My husband only makes 2200 a month.
Sharon of Laurel, DE March 8, 2006
I called Ameriquest to stop my escrow account, and they said that they had a better deal for me,I was already at a fixed rate-been with them for about 4-5yrs. Tthey suggested to refiance my account, then told me that I didn't have to pay for the next two months, then screwed up my account by throwing me into a 2yr ARM.
Payments remained the same -- without the home owners insurance and property taxes included -- then reported my late payments in which I was never late on my account to credit bureau. They broke the law by having us sign the documents in my state right at my house. First we signed the documents at a Wendy's on the Maryland line, then they screwed up the paperwork and changed the amount that we were supposed to get cause they paid an old credit card off, so they sent a respresentative to our home in Delaware to sign the documents, which was illegal.
Tammi of Mastic, NY March 8, 2006
When my husband lost one month of work in July we called Ameriquest. We explained we would be late and that we wanted to make it up somehow. They wouldn't accept payments from that day on because they said they had to calculate the fees and would call us with a downpayment. They never called.
I called every day for months and finally found out they were going to set up a forebarance agreement now that we were late 3 months. They set one up for a 4500 down payment and 3200 a month for 9 months! We told them we couldn't afford that.
Supervisiors won't help or even return calls. It's not fair that we have to lose our home for missing one payment, when they never gave us any options to pay partial amounts. We were never late before the one late payment. My husband got a job right away and we were back on our feet.
Alicia of Douglassville, PA March 8, 2006
We refinanced our house with Ameriquest in 2001 I believe. We refinanced on an ARM. Everything was fine until the fall of 2004. One day we received a letter in the mail from Ameriquest stating that we did not pay our school and property taxes for the year of 2003 and, since we did not pay the taxes they were forcing an escrow on our account. The forced escrow on our account was for the 2003 school and property taxes (which were paid) and they also included the 2004 taxes which were going to be paid in October, just a couple of weeks later. And also the taxes for 2005 which were not due at all.
We did not have our taxes escrowed through Ameriquest, we paid them on our own. Needless to say, the taxes were paid and had been paid for a while. Well, since they forced this 3 year escrow on us our payment went from 1003.00 a month to 2400.00 a month. Which we could not pay, my husband only brings home 2800.00 a month. I called them and tried to explain this to them. They did not care at all.
I had the court house send them proof that the 2003 taxes were paid, and they even received the check back that they sent, and they were still refusing to even remove the 2003 escrow. Finally I had forced them to remove the 2003 escrow but they would not remove the escrow account from my mortgage and my payments were still 2100.00 a month. Which, I could not pay. I told them that I was going to lose my house and they said, "We are very sorry to hear that Mrs. Taschner". This went on for 3 months until I finally threatened them with a law suit and had a friend call acting like a lawyer.
I would of contacted a lawyer but, obviously, all of my money was going to Ameriquest. They were a nightmare to deal with. Their escrow dept. is another company all together and they do not give one iota about you or anyone else. We are nothing but to them. We escaped and now refinanced through a reputable company. Thank goodness!!!
Marcie of New Haven, CT March 7, 2006
Refinanced with Ameriquest. Several items changed at last minute such as: 1. interest rate not as first stated. 2. didn't use husbands pay for lower rate. 3. was supposed to be fixed at "lower rate" within 1 year. 4. insurance not included (found out this year!) 5. taxes not included also. only found out when city of new haven sent tax bill in amount of approx. 1500.00 (only partial pymt.) 6. said pymts. would go down, did not they went up approx. 100.00 in first year of 2 year loan! also other things stated that i cannot remember at the present time.
Tara of Canaseraga, NY March 1, 2006
We refinanced with AMC in Aug 2004. We were told that our payment would include all taxes. The payment was 1,600, which was for P&I and taxes. A Month after the papers were signed we made our first payment. The next month we were notified that our payments were going up 100.00 dollars because of an escrow shortage. Fine, we did that for another 8 months not knowing that in fact the shortage was forgetting to add our school taxes to the monthly payment.
We were notified again 8 months later that our payment was going up another 800.00. Because of this our payment was 2,404.00. They wouldnt take anything less than this. This is when we started becoming late on our payments.I tried paying just P&I, and they would not credit our account,they cashed the check but wouldnt apply it to the loan.After months of trying to find out what happend with escrow they can not still to this day tell us why.
AMC has not tried to help us in any way but a forbearance plan where we put 6,000. down and pay 3,535.15 a month for 8 months. This is a short account of the other mishaps with AMC. they told us to get rid of some of other payments which should help with them helping us. We got rid of a truck, car, tractor,just about everything so amc could tell us we never said this,so it never changed a thing to get rid of everything. the list goes on and on.
Jewell of Elcho, WI February 13, 2006
We fell behind on our payments because of sickness.We called Ameriquest and tried to set up some sort of payment to catch up.We were told that they did not do that and we would have to pay three months at ane time.We could not afford to do this.So now they have us in foreclosure.Our only way to save our home is to file bankruptcy.
Mary of Omaha, NE February 12, 2006
I refinanced my home in 2000 for 10,000, even though I did have more equity. I had financial difficulties, so I was forced to sell my house. When it was time to pay off my loan, they had charged me over 3,000, for a prepayment penalty. I know now, that that was not discussed before. Also, I know there were other fees and extras that were not legit.
Andrew of Nashville, TN February 11, 2006
Refinance issues: We agreed to a loan at an 8% and a payoff of a truck loan and a few credit cards. At the time Our mortgage would have only gone up by about 175.00 and was goint to save us over 400.00 a month in other bills. Sounded good until the notary showed up wi a 14.5% interest rate and a payment of almost doubled what our original payment was. So before signing anything I called Harry and he told me to just sign them so he would have my signature and could take of it when he got the paperss back to him. A
lso at first we were promised a first payment due date of Febuary 1st. The phone began to ring Januaury 1st demanding a payment. I filed a complaint and was contacted by the office of the "president" and they said nothing could be done because WE BENEFITTED from our loan. I have since contacted law firms to see if I qualify for a part of the calss action suit or not but in the mean time have taken action to refinance with another company to get as far away as possible. Hope everyone will do the same. And please do your homework and never trust a loan officer until the deal is what you want and the papers are signed the way you want theam
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